Twitter Wallet Progress: When Will Elon Musk Integrate Dogecoin (DOGE)?

Elon Musk is sitting in front of a big wallet with blue birds on it and Shiba Inu is hiding inside the wallet

The world’s wealthiest man and the new head of Twitter, Elon Musk, assumes it’s going to be a long crypto winter, but Bitcoin (BTC) will make it through. However, the plans to implement a crypto wallet into Twitter’s system have been put on hold. This is mostly due to the fact that the fresh CEO decided to lay off more than 50% of staff.

The Massive Chaos Of Crypto Winter

Amid the chaos going on in the IT sector, the Twitter Wallet seemed to be fading away, but now it receives a substantial number of social mentions, as Crypto Twitter desperately needs a bump to wash away the FTX fiasco. On top of that, Elon Musk’s cherished memecurrency Dogecoin (DOGE) bounced right back to the $0.08 key resistance level when the Twitter Wallet crypto project was paused.

However, “Twitter & Doge Integration is Inevitable”, as popular crypto influencer Doge Designer articulately expressed.

Indeed, Musk said in a recent Twitter Spaces appearance that “Well we are looking at a lot of things. Right now, Twitter just has to get the basics right.”

The plans were once again guaranteed, with Musk chanting “Dogecoin To The Moon!!” and explaining Twitter didn’t cut a deal with SBF of the fallen FTX (FTT), because the former boss “gave out bad vibes.”

DOGE’s On All Fours Amid Crypto Turmoil

At press time, the 8th ranked Japanese dog themed memecoin DOGE trades at $0.088388, having declined by 0.8% in the last 24 hours. However, it still enjoys a healthy growth of 50.8% in monthly terms, as it skyrocketed all the way to $0.155102 on November 1st, 2022.

The bull run came a couple of days after Elon entered Twitter’s San Francisco headquarters with a sink in his hands to wash away Twitter’s sins. Now, Elon ‘The Dogefather’ Musk condemns the NY Times with a rhetorical question about the SBF story: “Why the puff piece?”.

The story received strong backlash from the crypto community, with Sam Bankman-Fried trending on Twitter on Tuesday morning for the same reason. To illustrate, economist Alex Krüger called the report “disgraceful”, while Kraken founder Jesse Powell said of the Times journalists “It’s too generous to call these people clowns. They betray their duty.”

On the Flipside

  • Vitalik Buterin, the co-founder of Ethereum (ETH), donated $2.5 million of DOGE to the Dogecoin Foundation.
  • The public figure of the second largest crypto had been “an early supporter who has been helping fund Doge development”, according to the Doge Whisperer.

Why You Should Care

Still healing the wounds from the Terra (LUNA) and Terra (UST) disasters that sent previously successful crypto hedge funds like Voyager Digital and Three Arrows Capital (3AC) down the tubes, now the crypto industry has another obstacle with the downfall of the second largest crypto platform, FTX.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

Author

Tadas Klimasevskis is an author & reporter, focusing on the latest tendencies of the crypto galaxy. Tadas spends his time digging deeper into specific areas like coins such as Shiba Inu (SHIB) & Dogecoin (DOGE), music NFTs, sports NFTs, digital art, and Pop culture in Web 3.0. Tadas strongly believes in crypto as disruptive innovation and keeps an eye out for new crypto hubs being developed around the globe. His vast experience in social media lets him quickly spot what’s going on in the mercurial world of crypto and deliver stories with unique spins. He has been active in blockchain and cryptocurrencies since 2019.